Defendant Name: J.P. Morgan Securities LLC

Defendant Type: Subsidiary of Public Company

Document Reference: judg18114

Document Details

Legal Case Name Name SEC v. J.P. Morgan Securities, Inc.
Document Name Final Judgment as to Defendant J.P. Morgan Securities Inc.
Document Date 28-Apr-2003
Document Format Civil Proceeding
Case Number 03-cv-02939
Federal District Court New York, Southern District of New York
Allegation Type Investment Advisers/Investment Companies
Document Summary

Disgorgement & Penalty Information

Resolutions
Enjoinment
Compliance Related Independent Consultant
Other Compliance Related Undertaking
Fair Funds
Plan of Distribution
Monetary Penalties:

Disgorgement

Individual:     $25,000,000.00 Shared:    

Civil Penalty

Individual:     $25,000,000.00 Shared:    

Independent Research ($25 million) and Investor Education ($5 million)

Individual:     $30,000,000.00 Shared:    

Total Penalty

Individual:     $80,000,000.00 Shared:    

Related Documents:

comp18114 28-Apr-2003 Complaint
Complaint
According to the SEC: "Defendant engaged in acts and practices that created and/or maintained inappropriate influence by investment banking over research analysts, thereby creating conflicts of interest for its research analysts. Defendant failed to manage these conflicts in an adequate manner. During the relevant period, Defendant encouraged its research analysts to participate in investment banking activities, and used this participation as a factor to evaluate analysts and determine their compensation. The Research Department of Defendant coordinated the decision to initiate and maintain research coverage on certain companies with Defendant's Investment Banking Department, and coverage decisions were influenced by investment banking interests."
LR-18114 28-Apr-2003 Litigation Release
SEC Sues J.P. Morgan for Research Analyst Conflicts of Interest; Firm to Settle with SEC, NASD, NYSE, NY Attorney General, and State Regulators
LR-21457 19-Mar-2010 Litigation Release
Court Approves Modifications to Global Research Analyst Settlement
On March 19, 2010, the SEC published a litigation release announcing that the Honorable William H. Pauley issued an order approving modifications to the final judgments entered against J.P. Morgan Securities Inc. and the other firms covered by the Global Research Analyst Settlement.